The cities of Grapevine, Colleyville and Southlake all saw declines in their sales tax revenues collections reported in May.
When comparing reports from May 2019 to May 2020, Grapevine saw a 24.38% decline, Colleyville saw a 1.23% decline and Southlake saw a 12.01% decline, according to data provided by the Texas Comptroller's Office.
These numbers are based on sales made in March for businesses that report on a monthly basis and in January and February for businesses that file quarterly, according to a comptroller news release. As such, the numbers do not fully capture the effects of social distancing requirements that were enacted by Gov. Greg Abbott March 19.
As city governments grapple with declines in their sales tax collections, some have announced plans moving forward. The city of Colleyville, for example, announced May 11 that staff is taking a conservative approach to its finances while planning for various budgetary scenarios.
Meanwhile, Southlake announced May 8 it has formed a task force of over 20 local business owners and community leaders to tackle reopening the city’s economy.
"We’re off to a great start,” said Southlake City Council Member Shawn McCaskill, the task force leader, in a May 8 news release. “The group is energetic, motivated, and innovative. They’ve set strong goals, and we’re going to see solid things come out of this effort.”
Texas Comptroller Glenn Hegar said the state collected 5% less sales tax revenue when comparing May 2019 and May 2020 reports.
See the chart below comparing May 2020 and May 2019 sales tax reports from Grapevine, Colleyville and Southlake.
Sales tax revenues see year-over-year decline in Grapevine, Colleyville, Southlake
Grapevine, Colleyville and Southlake all saw declines in their sales tax revenue based on May reports. (Courtesy Fotolia)